Tuesday, 21 November 2017

One click is the secret to mobile payments adoption

Oxygen8
Tuesday 25 March 14

A study into smartphone users’ attitudes towards mobile payments by integrated mobile solutions provider Oxygen8, has revealed simplicity as the driving factor to unlocking widespread adoption. Despite having the capability to do so, a third (33%) of 18-44 year olds in Great Britain admit to never having made a payment using their phone…

A study into smartphone users’ attitudes towards mobile payments by integrated mobile solutions provider Oxygen8, has revealed simplicity as the driving factor to unlocking widespread adoption. Despite having the capability to do so, a third (33%) of 18-44 year olds in Great Britain admit to never having made a payment using their phone. However, over half (56%) would be more encouraged to do so if it was as simple as paying with a single click.

The need for a more straightforward payment method is consistent throughout the research findings, with 56% of smartphone users surveyed admitting that multiple steps put them off making mobile payments. 55% also stated they would be more likely to make further payments using their smartphone if a simpler method was universally available.

“We live in an age where secure hassle free payments, such as contactless and 1-click online payments, are a given,” comments Maria Grant, Head of Product Development at Oxygen8 Group. “These findings show that consumers expect similar simplicity when it comes to mobile payments. Businesses, like ours, are able to provide this to merchants. But it’s clear that the industry needs to work to create more awareness with consumers that simple, secure and swift smartphone payment options already exist.”

The importance of consumers having access to the right mobile payment mechanism is amplified further by a third (33%) of those surveyed confessing they would like the option to directly click through from a SMS marketing message advertising a product or service to pay for the goods. However, 73% have abandoned shopping baskets for reasons including fiddly navigation, security concerns, off-putting pop-up adverts or a clunky checkout process. Businesses will need to address these concerns if they want to capitalise on the consumer appetite for direct payments from SMS marketing.

“To exploit the opportunity to engage with consumers via the smartphone businesses need to make sure the whole process is simple and seamless, from a targeted SMS through to payment,” concludes Grant. “If they can achieve this then it will create a direct way for them to build brand loyalty and increase sales.”


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